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Multifamily

Cedar Pines Apartments

323 Verdery Drive, North Augusta, SC 29841

Listing Price: $1,700,000

Cap Rate
5.15%
Number of Units
28
Occupancy
100.0%
Price/Unit
$60,714
Price/Gross SF
$103.41
Gross SF
16,440

Investment Overview

Marcus and Millichap are please to present the Cedar Pines Apartments located in North Augusta, SC. This property consists of twenty-six, Two Bedrooms, One Bathroom units and two houses consisting of a two Bedrooms, One Bathroom house and a Three Bedroom, Two Bathrooms house. Currently the average rent is in the $500 range which is well below market. The property has recently been power washed and three of the buildings have received new roofs since 2019. There is a Laundry room on site and the interior of the units have a mix of vinyl plank and carpet. Currently the property has septic plumbing and all septic tanks have been replaced in the last four years. All units are separately metered for electric and the tenants are responsible for the electric expense. Ownership is responsible for the water expense on the property since there is one meter. This asset gives investors the opportunity to take advantage of a value-add opportunity with the ability to immediately increase the rents without renovation.

Investment Highlights

  • Centrally Located in a Strong Submarket of North Augusta
  • Substantial Opportunity for Value Add
  • Well Maintained Asset

Exclusively Listed By

Listing Price: $1,700,000

Cap Rate
5.15%
Number of Units
28
Occupancy
100.0%
Price/Unit
$60,714
Price/Gross SF
$103.41
Gross SF
16,440

Investment Highlights

  • Centrally Located in a Strong Submarket of North Augusta
  • Substantial Opportunity for Value Add
  • Well Maintained Asset

Investment Overview

Marcus and Millichap are please to present the Cedar Pines Apartments located in North Augusta, SC. This property consists of twenty-six, Two Bedrooms, One Bathroom units and two houses consisting of a two Bedrooms, One Bathroom house and a Three Bedroom, Two Bathrooms house. Currently the average rent is in the $500 range which is well below market. The property has recently been power washed and three of the buildings have received new roofs since 2019. There is a Laundry room on site and the interior of the units have a mix of vinyl plank and carpet. Currently the property has septic plumbing and all septic tanks have been replaced in the last four years. All units are separately metered for electric and the tenants are responsible for the electric expense. Ownership is responsible for the water expense on the property since there is one meter. This asset gives investors the opportunity to take advantage of a value-add opportunity with the ability to immediately increase the rents without renovation.

Exclusively Listed By

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